Predicted house price increases for 2025 will come as further grim news for those hoping to buy a home of their own, according to Social Democrats TD Rory Hearne.
Deputy Hearne, who represents Dublin North-West, said:
“According to its latest residential market review and outlook, estate agent DNG forecasts that house prices across the country will increase by up to eight per cent this year. Nationally, this would bring the average price of a second-hand home to almost €324,000, rising to a staggering €630,000 in Dublin.
“The stark reality is that buying home in the capital is now only an option for the highest earners, pushing thousands of house-hunters further away from friends and family in the communities they grew up in.
“Skyrocketing property prices continue to be the main barrier to owning a home in Ireland, with lack of supply and affordability fuelling the housing crisis.
“Failed housing policy by successive governments has put the dream of homeownership further out of reach for this locked-out generation. This explains why there are over half a million adults stuck in their childhood bedrooms, and in excess of 15,000 people – including more than 4,600 children – living in emergency homeless accommodation.
“The next government must significantly scale up delivery of genuinely affordable homes and implement housing policies that put the needs of ordinary people before the interests of developers and investment funds.”
January 8, 2025